© Fabrinet Electronics Production | May 07, 2020
Fabrinet adjustments kept the company running
Fabrinet’s swift adjustments to a changing business environment allowed the company to remain operational and keep its financial results within its guidance.
The Bangkok based manufacturer reported revenues for the third quarter of fiscal year 2020 was USD 411.2 million, compared to USD 399.0 million during the same quarter in 2019. GAAP net income for 3Q20 was USD 28.3 million, compared to USD 28.6 million last year. “We quickly adjusted to a changing business environment in the third quarter to safely remain operational, demonstrating the flexibility inherent in our business model. As a result, our financial results for the quarter were within our guidance ranges. Looking ahead, we will continue to benefit from our flexible operating model and highly variable cost structure to generate solid results during this rapidly changing business environment,” says Seamus Grady, Chief Executive Officer of Fabrinet, in a press release. The Thai company sats that it expects fourth quarter revenue to be in the range of USD 370.0 million to USD 400.0 million.